Managing inventory efficiently in QuickBooks can be challenging without the right tools. Coefficient’s free QuickBooks Inventory Excel Template streamlines your inventory management process, providing real-time data and powerful insights to optimize your stock control.
What is an Inventory Management Report?
An inventory management report is a comprehensive document that tracks and analyzes the flow of products in and out of a business. It provides crucial information about stock levels, reorder points, sales trends, and purchase orders. This report is essential for maintaining optimal inventory levels, reducing carrying costs, and ensuring smooth operations.
Benefits of using QuickBooks Inventory Template
- Real-time data synchronization: Automatically sync live data from QuickBooks to Excel, ensuring your inventory reports are always up-to-date.
- Improved accuracy: Eliminate manual data entry errors and discrepancies between QuickBooks and your spreadsheets.
- Time-saving automation: Reduce the time spent on creating and updating inventory reports, allowing you to focus on strategic decision-making.
- Enhanced visibility: Gain a clear overview of your inventory status, including stock levels, reorder points, and sales trends.
- Better forecasting: Use historical data and real-time insights to make more accurate inventory forecasts and purchasing decisions.
Metrics Tracked in the Report
- Product name
- Stock keeping unit (SKU)
- Size and color
- Original stock level
- Reorder point
- Cost price and markup
- Retail price
- Total orders
- Orders waiting to be fulfilled
- Stock waiting to be received
- Stock on hand
Purchase-related metrics:
- Purchase order number
- Purchase date
- Stock due date
- Supplier
- Quantity
- Cost price
- Total amount
Sales-related metrics:
- Sales order number
- Order date
- Shipped date
- Client
- Quantity
- Retail price
- Total amount
More Metrics to Track and Analyze on Google Sheets
With Coefficient’s QuickBooks integration, you can pull additional financial data into your Google Sheets, such as:
- Transaction lists by customer, vendor, or date
- Balance sheet details
- Cash flow statements
- Profit and loss reports
These metrics provide a comprehensive view of your financial performance, allowing for deeper analysis and more informed decision-making.